FINAL REPORT PROJECT NAME THE MAGIC BOX iwe have read and understood about academic integrity violations

MINISTRY OF EDUCATION HOA SEN UNIVERSITY FACULTY OF MARKETING FINAL REPORT PROJECT NAME: THE MAGIC BOX Classname MK207DE01 Subject Product Management Group Lecturer Mr Phan Minh Tuan Fullname Dương Thảo Vy Hoàng Thị Kim Yến Nguyễn Quỳnh Thủy Tiên Tô Ngọc Nhã Uyên Đặng Anh Tuấn Nguyễn Đức Thịnh 6/2021 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP MINISTRY OF EDUCATION HOA SEN UNIVERSITY FACULTY OF MARKETING FINAL REPORT PROJECT NAME: THE MAGIC BOX Classname MK207DE01 Subject Product Management Group Lecturer Mr Phan Minh Tuan Fullname Dương Thảo Vy Hoàng Thị Kim Yến Nguyễn Quỳnh Thủy Tiên Tô Ngọc Nhã Uyên Đặng Anh Tuấn Nguyễn Đức Thịnh 6/20-21 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP COMMITMENT “I/we have read and understood about academic integrity violations I/we personally honor this report that this report was implemented by me/us and does not violate academic integrity” Fullname Confirmation Dương Thảo Vy Hoàng Thị Kim Yến Nguyễn Quỳnh Thủy Tiên Tô Ngọc Nhã Uyên Đặng Anh Tuấn Nguyễn Đức Thịnh download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP PREFACE The report on the project “Mini Magic Box" received contributions and completion from many individuals First of all, all team members would like to thank Mr Phan Minh Tuan - Lecturer of Product Management, who has always been dedicated to helping team members throughout the implementation Thanks to his dedicated guidance, we were able to accomplish the report most completely and at the same time, gain more useful knowledge about the Product Management subject as well as savvy more about New Product Process and how to create a launching product plan Besides, we would like to thank the authors and the team for providing information and knowledge on the topic so that our group can refer to and improve their topic Due to the time limitation as well as the lack of experience of the members, the report cannot avoid errors Nevertheless, the project team hopes the report will provide readers with information and knowledge that are useful and reliable Finally, I would like to thank all the members of the group for always doing their best in their work and constantly supporting and helping each other during the homework to be able to complete this report I am extremely happy to have the opportunity to cooperate and work with you Once again sincerely thank you! download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP ABRIDGMENT Nowadays, makeup has become an indispensable part for ladies Therefore, the cosmetic industry in general and the makeup industry in particular is constantly growing According to data from Nielsen Vietnam, 30% women are surveyed wear make-up on a daily basis, 51% wear make-up for work or school Besides, Vietnamese buyers tend to spend more on make-up than skincare with the average being 300,000/ month Few people don’t wear make-up (14%) as their top reasons are “don’t know how to”, “laziness” and “sensitive skin” This demand is expected to continue to grow in the coming years Along with that, makeup trends will constantly change and be updated However, it is a fact that people cannot use up the products until they expire The most common reason can be mentioned as they feel bored with those makeup products This is extremely wasteful and they have to spend extra money to be able to choose to experience many different makeup styles In this year, Maybelline NY Cosmetic - which is a popular brand of Loreal Group decided to launch a new product line, which is a Magic Box consisting of items: cushion, lipstick, blush, highlighter and bronzer These makeup items will be integrated in a compact box In addition, we will create many additional services to create a competitive advantage for our products The product will be launched in Vietnam with a campaign called "Make ur own day" download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP TABLE OF CONTENT PREFACE ABRIDGMENT PART 1: NEW PRODUCT CREATION I Idea Generation II Evaluating the ideas A The formation process B Choosing and ranking factors 10 III Type of new product 12 PART 2: PRODUCT INNOVATION CHARTER 13 I Background 13 II Focus 13 III Goals and objectives 14 A Goal 14 B Objectives 14 IV Guidelines 14 PART 3: NEW PRODUCT PROCESS 15 I Phase 1: Opportunity identification and selection 15 A Situations 15 B Trend 15 C The change in shopping generation: 15 II Phase 2: Concept Generation 16 A Concept information process 16 B Marketing Research 17 C Perceptual map 19 D Judgments 24 III Phase 3: Concept Evaluation 24 IV Phase 4: Development 32 A Benefits 32 B Chunks and Functions 32 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP C Components 33 D The Detail of the Magic box 35 E The Extra Services 38 F Packaging Form 39 G Logo 39 V Phase 5: Launching the product 40 A Situation analysis 40 Industry background 40 Company background 42 SWOT analysis of Maybelline 43 B Marketing objectives 45 C Marketing strategy 46 General Marketing Strategy 46 Specific Target Strategy 47 D Action Programs (Tactics) 48 Overview 48 Communication Plan (IMC Plan) 49 Timeline 55 E KPI 56 F Marketing Budget 56 PART 4: INTELLECTUAL PROPERTY REGISTRATION 57 REFERENCES 58 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP TABLE OF FIGURE Figure Positioning map of “Magic box” 12 Figure Positioning map by Reasonable price and Brand Reputation 21 Figure Positioning map by Reasonable Price and Trendy colors 21 Figure Positioning map by Reasonable Price and Lightweight, Convenience 22 Figure Positioning map by Brand Reputation and Lightweight, Convenience 22 Figure Positioning map by Brand Reputation and Trendy colors 23 Figure Positioning map by Lightweight, Convenience and Trendy Colors 23 Figure 8.House of quality 31 Figure Fit Finder website of Maybelline 38 Figure 10 Packaging Form 39 Figure 11 Logo of new product 39 Figure 12.Research about Global Cosmetics Market 40 Figure 13 Vietnam cosmetic market overview 41 Figure 14 Sub-Brands of L'Oreal 42 Figure 15 Timeline 55 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP TABLE OF TABLE Table Using VRIN to evaluate the ideas Table Ranking factors 11 Table The detailed description of the concepts 16 Table The research result 18 Table The table describing competitors' concepts and products 19 Table Comparison table between Concepts and competitors' products 20 Table Cost-plus pricing 25 Table Fixed Cost 26 Table Data for NPV of Concept (Million VND) 29 Table 10 Data for NPV of Concept (Million VND) 30 Table 11 Chunks and Functions of product 32 Table 12 Components of Product 33 Table 13 The detail of the Magic box 35 Table 14 Marketing Objactive 45 Table 15 Tools for this Campaign 49 Table 16 Main activities in Stage 51 Table 17 Main activities in Stage 52 Table 18 Main activities in Stage 53 Table 19 KPI 56 Table 20 Budget 56 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP PART 1: NEW PRODUCT CREATION I Idea Generation ❖ Idea 1: Pet "saybye" - Service: Cremation for pet - Context: In today's life, pets not only bring spiritual values, but they are also seen as a friend, an important member of the family Due to limited sanitary conditions as well as limited land availability, not everyone is able to bury their "friend" Therefore, the service: Pet "saybye" with the thoughtful pet cremation process is considered an act of honoring their role, the goodbye, the final loving perfection for them ❖ Idea 2: UV Protective Mask - Product: Mask with UV Protection Layer Context: A mask with basic layers for antibacterial is sewn on an outer layer This layer is partially resistant to ultraviolet rays from the sun, minimizes skin damage, made from synthetic materials such as acrylic, polyester, nylon and lycra or rayon so they tend to be reflective of ultraviolet rays and therefore more protective ❖ Idea 3: Emergency Rescue Service - Service: Emergency Rescue Service - - Context: Rescue services for road vehicles, this is a very necessary service in today's society, but the important issue is to meet the factors of fast & cost-saving, ensuring service quality , there are situations where the vehicle is circulating in mountainous areas, or the road is damaged, it is necessary to have the nearest rescue team to assist and ensure the quality of service through the standards to evaluate, Connect with the repairman at the points near the vehicle problem area to resolve ❖ Idea 4: Clean Milktea Product: Milktea with fat-free ingredients - Context: Have you heard about healthy milktea? Today, there are a lot of milk tea addicts but they are afraid of being fat, we will solve this problem for you so you can drink milk tea comfortably, even at the gym and on diet This is a fat-free product that provides you with protein and energy, giving you good health and an attractive physique ❖ Idea 5: Maybelline Macgic Box - Product: Maybelline Magic box - - Context: "Maybelline makeup box" is a perfect combination with a full range of basic makeup products, with an extremely affordable price This product not only provides the perfect make up solution for beginners, but also brings convenience, savings and new experiences in download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP Economic recession: The global recession has adversely affected the fashion enterprise and many people have lost their jobs and are careful about nonessential spending Negative publicity: The chemical content of cosmetics as well as for animal testing has often been criticized All these negative photos make customers prefer mineral or organic composition The customers prefer all of these negative images to minerals or organics https://www.marketing91.com/swot-analysis-maybelline/ B Marketing objectives Specific Spreading the ● key message of the campaign and building awareness for maybelline new product line ● ● filter on tiktok 45 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP C Marketing strategy General Marketing Strategy 1.1 Segmentation and targeting 1.1.1 Target marketing strategy: Our target customers are people living in Ho Chi Minh City and Hanoi Concentrate on young millenials and gen Z (18-26 ages), particularly those who only know basic makeup or not know makeup at all 1.1.2 Target market selection: a Geographic segmentation: To expand the product's reach, we will focus on the central locations of two major cities: Hanoi and Ho Chi Minh City This is a place where many young people live as well as immigrants, so their entertainment and beauty needs are high https://marketingai.admicro.vn/bao-cao-xu-huong-tieu-dung-my-pham-taiviet-nam-2020/ b Demographic segmentation: ● Gender - Age - Income: As mentioned above, the age we target is young people, 18-26 years old Mainly for women, who like makeup, want to look confident but have limited ability The average income is already able to own our products ● Psychological segmentation: Lifestyle: Maybelline's Magic box is aimed at ordinary customers who are not too passionate about makeup or are in the process of learning about this field Character: Our target customers are simple, rustic persons who like convenience, and prestigious but bargaining ● Interest: Hobbies include things like beauty, hunting for bargains, and shopping on a tight budget ● Buying behaviour: The majority of buyers prefer products that are functional, convenient, and reasonably priced Their purchasing decisions also depend on word-of-mouth, reviews and testimonials, recommendations from influencers and bloggers 1.2 Brand differentiation strategy: In the market, there are many makeup brands with thousands of different products, but they often not focus on customer convenience They produce full-size products or large makeup sets, making it difficult for customers to carry with them Maybelline’s 46 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP mini set brings customers convenience, savings, compactness, and meets the daily needs of customers 1.3 Brand positioning strategy: ● Maybelline positioned itself as a “Urban American Chic” brand, inspired by New York makeup trends and styles With an optimal pricing structure, the brand has amassed a large number of loyal customers over the years ● Maybelline has established itself as the number one makeup brand available globally at a reasonable price for a diverse group of beauty-conscious women ● With this new product, it also focuses on the convenience of customers, creating customers confidence, can always carry with them and become shining Specific Target Strategy 2.1 The Product strategy ● Core: Mini make up set will provide a full range of basic products for beginners to help them make up easily and economically Moreover, it can also protect the skin under the negative effects of the sun ● Actual: This is a new product line of Maybelline, one of the largest cosmetic brands in the US and a sub brand of the world's largest cosmetics group L'oreal This product is made from natural ingredients that are certified by dermatologists to ensure that no customer has an allergic reaction when using the product In terms of colors, products are researched and developed based on current makeup trends and will constantly change styles to keep up with the times and give customers a variety of choices In addition, the product's packaging will be made from rice husk instead of plastic to protect the environment ● Augmented: When customers choose to buy products, customers will be advised on appropriate makeup styles by using virtual technology After selling the product, customers will receive a 30% discount voucher on their birthday 2.2 The Pricing strategy Because "Mini make up box" is a new product in the market, we are using penetration pricing strategy to quickly reach our target audience and gain market share Thus, in the first months after launching the product, we are continuously organizing promotions to stimulate customers to try the product After that, We are evaluating the product's indicators If the indexes are as expected, we will sell products with listed price_299,000 VND On the contrary, if the performance is not as well as expected, we will change the pricing strategy to be more suitable 47 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP 2.3 The Place/distribution strategy Maybelline is a global brand, which is always associated with prestige and quality For this reason, we are adopting selective distribution strategy to distribute this product because we believe the quality of channel members is a key factor to the product's success Furthermore, we are combining direct selling and indirect selling channels to maximize revenue and market coverage In the indirect selling channel, we are distributing to reputable retailers such as: malls, supermarkets, cosmetic stores,etc In the direct channel, we are selling products on social networks(including: Instagram, Facebook, Maybelline website, ect) and E-commerce (including:Shopee, Lazada and Tiki) 2.4 Communication strategy To reach and increase brand awareness of the target audience, we are using tools: sales promotion, public relations, advertising and digital marketing at the same time Specifically, We are doing main activities, including: organizing launching event, booking KOLs, carrying out promotional campaigns, creating a viral clip and advertising on social media Besides, developing viral content and posting on facebook, instagram and TikTok will help us make this product a new makeup trend for young girls D Action Programs (Tactics) Overview The Box will be launch in October/2021 ● Target Audience: Gen Z (18-26) ● Budget: ● Flight days: 1/3/2021 - 28/3/2021 ● Objectives #1 Spreading the key message & awareness of Maybelline’s new makeup box #2 Increasing traffic on Maybelline’s website & in-store 48 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP Communication Plan (IMC Plan) 2.1 Tools Table 15 Tools for this Campaign Interactive Media – Digital media (Main tools) Social Media - Facebook: Content on Maybelline Fanpage ● ● ● Youtube: Teaser video Introduction video Launching Event Video - Tiktok ● Using tiktok filter to create trend Video Marketing Online Newspaper - Video Ads on Facebook’s fanpage and Youtube - Kenh14.vn, Elle.vn, Yan News, Zing News - Booking articles based on target reader Groups POSM: Standees at physical stores, retailer stores & Advertising Front OFH malls - Digital Billboards - Digital Place - based 49 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP Public Relations Event - Launching event - KOLs & Influencers have some activities on social media sites to reach and increase trust for customers Specialty Container - Specialty Container for Occasions Sampling - Samples at physical stores KOL/Influencer Sales Promotion 50 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP 2.2 Media Plan Stage 1: [Awareness] Pre-launching ● Duration: 8/2021 - 10/2021 ● Main activities: Table 16 Main activities in Stage Digital Marketing Youtube: Youtube: Post a video on Youtube introducing the upcoming product launch program called “Make us own day”: S-Lite Released a 30's invitation teaser about the time and location of the "Make us own day" event Owned media Partner with Kols and Influencers in the community that is attracting young people to release videos for our series at the event Then we deliver our key message and advance the trend of "Be Confident" Facebook and Instagram: Launch the fanpage, then give an overview of our product idea and announce the release date At the same time, sharing a short clip of the teaser is expected to go viral Paid Media Mass media like Facebook and Youtube get the results table Earned Media Therefore, we increase traffic to our social page and then increase engagement through comments that stimulate activity PR activities Editorial articles Express your opinion on the new modern trend of "Confident Breaking the Way" on Kenh14, Yan News, Zing, Ngoisao.net, Newszing.vn, Vnexpress.net, Elle.vn, Khoedep.vn 51 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP Stage 2: [Introduction & Spreading the message] Launching Table 17 Main activities in Stage Digital Media Youtube: Book KOLs/Influencers shoot experience clips and reviews product Facebook: Posting communication clips about the uses and Owned Media: benefits of the product: encapsulates a basic set of cosmetics, suitable for makeup beginners, convenient to carry in all circumstances, Tiktok: Create a trend of makeup challenges using the “Magic box” cosmetic set with the hashtag #ChallengexMaybeline Paid Media: Facebook, Instagram and Youtube Ads: Reach and increase awareness for potential customers through social media PR Activities Articles Standee Event (13/10/2021): OOH TVC download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP Image Ads: KOLs photos, products image, mini games Google Display Ad image, Stage 3: [Boost Sales] Post - Launching ● Duration: 2/2022 - 12/2022 ● Objectives: Maintain interaction on communication channels and drive sales ● Main Activities Table 18 Main activities in Stage Interactive Media – Digital media Facebook: Content Facebook Ads Paid Media Youtube: Bumper Ads & Skippable Video Ads Tiktok: Tiktok Ads Owner Media Building contents on Facebook, Youtube & Website Advertsing Standees at physical stores & shopping malls Billboard Advertising OOH Display Ads Frame & lCD at Shopping Malls Sale Promotion Coupons Price Reductions Flash Sale Voucher 100,000 VND applied to all Maybelline products in the next purchasing when customers buy products "Magic box" 100 discount codes with denominations from 20.000 VND to 50.000 VND will be applied on the 15th of every month on Maybelline's website and e-commerce platforms Products will be 20% off in the first two weeks of launch If customer buy “Magic box” with eyeliner, eyebrow pencil or mascara, they will get special price This program will be held according to the schedule of the e-commerce platforms During fixed time frames, 53 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP customers can buy products at 10-20% cheaper than the listed price Free ship and return Like coupons, 500 freeship codes will be given to customers with invoices over 300,000 VND If the product is damaged during transportation or the product quality is not guaranteed, the company will recall the product and refund the customer 54 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP Timeline Figure 15 Timeline 55 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP E KPI Awareness Conversion F Marketing Budget Ta No 10 11 12 BUDGET Activi Public R Creating Viral vid Launching event Booking KOLs Booking online n Digital M Facebook ads Youtube ads Tiktok ads Sale pro Coupon Discount Freeship Advertisi Standee Billboard Total 56 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP PART 4: INTELLECTUAL PROPERTY REGISTRATION We register intellectual property rights to our products According to Luat-So-huu-tri-tue-2005-50-2005-QH11-7022 The following condition are required to obtain the right to product protection - New: this product is the first new in Vietnam market Creative: Trendy and helpful products interaged in just one box, environmental protection, no waste Practicality in life: This product can satisfy the most of women beauty needs - 57 download by : skknchat@gmail.com FINAL REPORT_Product management] GROUP REFERENCES Dan so (n.d.) Dân số Việt Nam theo độ tuổi 2020 https://danso.org/viet-nam/ Nitesh Chouhan, Himanshu Vig , Roshan Deshmukh (n.d.) Cosmetics Market by Category https://www.alliedmarketresearch.com/cosmetics-market Q&Me (n.d.) Vietnam cosmetics trend 2020 Q&Me Research https://qandme.net/en/report/vietnam-cosmetics-trend-2020.html TỔNG QUAN TÌNH HÌNH PHÁT TRIỂN CỦA THỊ TRƯỜNG MỸ PHẨM VIỆT NAM 2020 - 202 (n.d.) https://www.vimaccos.vn/thi-truong-my-pham 58 download by : skknchat@gmail.com ... “I/we have read and understood about academic integrity violations I/we personally honor this report that this report was implemented by me/us and does not violate academic integrity? ?? Fullname... refer to and improve their topic Due to the time limitation as well as the lack of experience of the members, the report cannot avoid errors Nevertheless, the project team hopes the report will.. .FINAL REPORT_ Product management] GROUP MINISTRY OF EDUCATION HOA SEN UNIVERSITY FACULTY OF MARKETING FINAL REPORT PROJECT NAME: THE MAGIC BOX Classname MK207DE01 Subject